What is Shangri-la?
Ok, so the Ultra-luxury market is on the rise, or is it?
Over the past few years there has been an increase in ultra luxury condo projects coming on the market here in Toronto. Big names too, like Four Seasons, Ritz-Carleton, and even Trump. But there’s another name that not as many people have heard of, Shangri-la. It sounds like a name from a movie or something. Well in fact that’s just what it is! A book called “Lost Horizon” written by James Hilton in the early 20th century and later made into a movie, gave the name to an oasis in the freezing Himalayas. Shangri-la was a place that was not only beautiful but also a virtual paradise that provided all of it’s inhabitants with refuge from the world outside, which was at the time, engaged in war.
Add to this the quiet knowledge that if you lived in Shangri-la that you would not age…not even one day! Pretty sweet!
Fast forward into the millennium where the word “Shangri-la” has been used so much in our lexis that people now understand that it is a word synonymous with “utopia” or “paradise”.
A very cleaver family in Asia recognized this and embarked on building one of the most fabulous hotel chains in the world. Anyone who has stayed in a Shangri-la hotel is in the know about what real luxury means. Sure Four Seasons is great and I love that it’s Canadian, but really, it’s all in a name isn’t it? Same can be said for Ritz-Carleton and even Trump. What separates Shangri-la from these other fine hotels? Simple: Service. Having stayed at all of these very fine hotels in my time, I have put Shangri-la at the top my favorites. I can tell you from personal experience that it is simply the best place in the world to call home while away from home. Every aspect of the hotel is meant to quietly impress. Yet, the mystique of Shangri-la has really yet to be realized in Canada.
How many of us here in the east know that there is already a stunning new tower rising above the city of Vancouver with a 5-star rating as well as a 5-star restaurant? Not enough people, I can tell you that. Now, the same people who brought Shangri-la to Vancouver have brought Shangri-la to Toronto! Yes, Toronto is one of the privileged few cities in North America to realize the dream of a utopian paradise within our downtown core that will rival and very likely raise the bar for luxury condominiums and hotels in the city.
Best of all, the Shangri-la’s in Toronto and Vancouver are Canadian owned. Yes, Westbank and The Peterson Group from Vancouver have partnered to bring Shangri-la to these two world famous Canadian cities. These guys really know the ultra luxury market with hotels and high end condominium residences already in Vancouver.
So, how does this factor into the ultra luxury real estate market. All of these big names are now building brand new sparkling towers in Toronto and to pay for the hotel, high-end condominiums are being offered for sale above the hotels. Imagine having a 6,700 sq ft penthouse on the 65th and 66th floor with the most stunning view of the city imaginable? Well, it’s going to be on top of Shangri-la for some lucky millionaire. Complete with custom Italian kitchens adorned with gleaming German fixtures and the best names in appliances that simply aren’t available anywhere else. This is something to be celebrated!
The starting prices are below $800,000 and go up to more than $12 million. That will buy you a fabulous suite with the best that the world has to offer and to live above what will definitely be one of the cities biggest jewels, well it’s about time!
Shangri-la is indeed a place of beauty, relaxation, pampering and luxury. There are lots of luxuries and it is under construction. It is indeed one of Toronto’s success stories!
I know the project like no other in the city as I’ve been a part of it since early 2007. If you want to get a glimpse of what it’s all about, I can take you there…but be warned, you won’t want to leave!
- Robert LeLiever
